LOS ANGELES — Joshua Kushner is expected to become the Lakers' controlling shareholder and governor. Bob Iger is expected to hold a minority stake and serve as alternate governor. Iger is also expected to lead the day-to-day management of the team. A source close to Joshua Kushner said, "Bob will not be the control person." The source added, "It is expected that Bob will be a minority owner, an alternate governor, and lead the management of the team day-to-day, but not the governor of the team."

NBA rules require the controlling governor of a franchise to personally own at least 15% of the team. Joshua Kushner is expected to invest at least $1.875 billion to satisfy the requirement. The sale of Mark Walter's stake to Iger and Kushner is under review by the NBA.

Five of Jeanie Buss' siblings voted to sell the family's remaining 17.8% stake in the Lakers to Iger and Kushner. Jeanie Buss is attempting to block her siblings' sale of their stake in Los Angeles court. Buss argues that a 2017 court order requires the family trust to take reasonable steps to keep her in place as the Lakers' controlling owner.

If the Buss family's 17.8% stake is sold, Buss would fall below the NBA's 15% ownership threshold required to serve as governor. Buss contends the sale of the family stake cannot proceed without the approval of the trust's co-trustees. The initial court hearing regarding the Buss family stake sale was rescheduled from November 5 to December 8.

Former Disney CEO Bob Iger stated on August 12 that he and Joshua Kushner had every intention to honor the agreement between Mark Walter and Jeanie Buss. "We have enormous respect and appreciation for Jeanie, her father and what they've contributed to this franchise," Iger said. He added, "If things change, they'll change." Mark Walter's 2025 purchase agreement allowed Jeanie Buss to remain the Lakers' governor for at least five years.

Timeline

On November 26, 1997, the California Court of Appeal issued a ruling in Urban Pacific Equities Corp. v. Superior Court of Los Angeles County. In 2017, a court order established that the family trust must take reasonable steps to keep Jeanie Buss in place as the Lakers' controlling owner.

What's New

The sale of Mark Walter's stake to Bob Iger and Joshua Kushner is under review by the NBA. The NBA's rule requiring a team's controlling owner to hold at least 15% ownership has been enforced in previous transactions, such as when Mark Walter acquired the Lakers in 2024, ensuring he met the threshold for control. Joshua Kushner previously held a minority stake in the Miami Heat, which he was required to sell as part of the Lakers purchase to avoid conflicts of interest under NBA ownership rules. Joshua Kushner founded Thrive Capital in 2009, a venture capital firm that has invested in over 200 companies, including startups like Warby Parker and Uber, and has been involved in multiple high-profile tech and sports investments.

How Sources Differ

Regarding Joshua Kushner, primary sources and additional sources state that five of Jeanie Buss' siblings voted to sell the family's remaining 17.8% stake in the Los Angeles Lakers to Bob Iger and Joshua Kushner. Bob Iger stated on August 12 that he and Joshua Kushner had every intention to honor the agreement between Mark Walter and Jeanie Buss.

Regarding the Los Angeles Lakers, primary sources and additional sources state that five of Jeanie Buss' siblings voted to sell the family's remaining 17.8% stake in the Los Angeles Lakers to Bob Iger and Joshua Kushner. Primary sources and additional sources also state that Bob Iger and Joshua Kushner agreed to buy Mark Walter's controlling stake in the Los Angeles Lakers.

Additional sources state that Mark Walter purchased his controlling stake in the Los Angeles Lakers from the Buss family in October 2024 for $10 billion.

News.com, the sale of the Los Angeles Lakers to Josh Kushner and Bob Iger is valued at $12.5 billion, according to a person familiar with the terms who spoke on condition of anonymity.

A New York Post report by Charles Gasparino states that Bob Iger is expected to hold a minority stake in the Los Angeles Lakers.

A 2017 Los Angeles Superior Court order indicates that Jeanie Buss argues that a 2017 court order requires the family trust to take reasonable steps to keep her in place as the Lakers' controlling owner.

Why It Matters

The transaction represents a shift in ownership for a franchise with 17 NBA championships, second only to the Boston Celtics in league history. The Lakers play their home games at Crypto.com Arena, which they share with the Los Angeles Prompts of the WNBA and the Los Angeles Kings of the NHL. The Lakers' valuation increased from $10 billion in 2024 to $12.5 billion in 2026, reflecting a 25% rise in value over two years, according to industry analysis by Sportico.

Bob Iger previously served as CEO of The Walt Disney Company from 2005 to 2020, during which time he oversaw the acquisition of Pixar, Marvel, and Lucasfilm, expanding Disney's entertainment portfolio. Iger previously owned a majority stake in the NWSL team Angel City FC, which he sold in 2024 after stepping down as Disney CEO, signaling his shift toward sports team ownership. The outcome of the legal challenge will determine whether Jeanie Buss retains her role as governor or if the new ownership structure proceeds as planned.